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Are Computer and Technology Stocks Lagging Allegro MicroSystems (ALGM) This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Allegro MicroSystems, Inc. (ALGM - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Allegro MicroSystems, Inc. is a member of the Computer and Technology sector. This group includes 649 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGM's full-year earnings has moved 10.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ALGM has gained about 42.3% so far this year. At the same time, Computer and Technology stocks have gained an average of 13.1%. As we can see, Allegro MicroSystems, Inc. is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, ASE Technology Hldg (ASX - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 17.2%.
Over the past three months, ASE Technology Hldg's consensus EPS estimate for the current year has increased 1.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegro MicroSystems, Inc. belongs to the Electronics - Semiconductors industry, which includes 41 individual stocks and currently sits at #181 in the Zacks Industry Rank. Stocks in this group have gained about 14.6% so far this year, so ALGM is performing better this group in terms of year-to-date returns. ASE Technology Hldg is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Allegro MicroSystems, Inc. and ASE Technology Hldg. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Allegro MicroSystems (ALGM) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Allegro MicroSystems, Inc. (ALGM - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Allegro MicroSystems, Inc. is a member of the Computer and Technology sector. This group includes 649 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGM's full-year earnings has moved 10.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ALGM has gained about 42.3% so far this year. At the same time, Computer and Technology stocks have gained an average of 13.1%. As we can see, Allegro MicroSystems, Inc. is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, ASE Technology Hldg (ASX - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 17.2%.
Over the past three months, ASE Technology Hldg's consensus EPS estimate for the current year has increased 1.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegro MicroSystems, Inc. belongs to the Electronics - Semiconductors industry, which includes 41 individual stocks and currently sits at #181 in the Zacks Industry Rank. Stocks in this group have gained about 14.6% so far this year, so ALGM is performing better this group in terms of year-to-date returns. ASE Technology Hldg is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Allegro MicroSystems, Inc. and ASE Technology Hldg. These stocks will be looking to continue their solid performance.